AN ILLUSORY CONTRACT IS A VALID CONTRACT:

True

False

Question

CONSIDERATION CAN CONSIST OF:

A PROMISE

PERFORMANCE OF AN ACT

NONPERFORMANCE OF AN ACT (I.E. ABSTAINING FROM PERFORMANCE OF AN ACT)

ALL OF THE ABOVE

A AND B

Question

WHICH OF THE FOLLOW CAN BE AN EXAMPLE OF A SITUATION WHERE EXCHANGING MUTUAL CONSIDERATION IS NOT REQUIRED

PROMISSORY ESTOPPEL

PLEDGES TO A CHARITY

PROMISE TO PAY AFTER THE STATUTE OF LIMITATIONS HAS RUN

ALL OF THE ABOVE